50.1 Cash flows from operating activities

Changes in working capital

Table 1

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Year ended
31 December 2020
Year ended
31 December 2019
Change in receivables 199,930 (298,156)
Change in receivables from buyers in statement of financial position (72,339) (61,346)
Change in receivables due to financial compensation 89,757
Change in other financial receivables 232,716 (243,715)
Reclassification to assets classified as held for sale (57,946)
Adjustment by the opening balance of the acquired business 3,802
Other adjustments 7,742 3,103
Change in inventories (181,433) (175,408)
Change in inventories in statement of financial position (93,063) (174,351)
Reclassification to assets classified as held for sale (81,859)
Adjustment by the opening balance of the acquired business 10,579
Adjustment related to transfer of invetories to/from property, plant and equipment (6,511) (11,636)
Change in payables excluding loans and borrowings 4,942 (213,341)
Change in liabilities to suppliers in statement of financial position 115,174 (277,110)
Change in payroll, social security and other financial liabilities (17,266) (135,831)
Change in non-financial liabilities in statement of financial position 54,485 27,597
Change in liabilities arising from taxes excluding income tax (196,145) 183,347
Adjustment of VAT change related to capital commitments 13,639 (8,732)
Reclassification to liabilities directly related to assets classified as held for sale 57,080
Adjustment by the opening balance of the acquired business 7,472
Other adjustments (22,025) (10,084)
Change in other non-current and current assets 369,501 (1,121,021)
Change in other current and non-current non-financial assets in statement of financial position 110,042 (28,883)
Change in receivables arising from taxes excluding income tax 102,041 (174,968)
Change in non-current and current CO2 emission allowances 280,723 (287,787)
Change in non-current and current energy certificates (36,477) (602,337)
Change in advance payments for property, plant and equipment and intangible assets (63,950) (22,460)
Reclassification to assets classified as held for sale (23,822)
Adjustment by impairment losses on other non-financial assets 2,845 (5,577)
Adjustment by the opening balance of the acquired business 7,089
Other adjustments (1,901) (6,098)
Change in deferred income, government grants and accruals (47,852) (70,938)
Change in deferred income, government grants and accruals in statement of financial position (79,770) 5,141
Adjustmet related to property, plant and equipment and intangible assets
received free of charge
(12,583) (19,460)
Adjustment related to subsidies received and refunded (59,669) (56,069)
Reclassification of accruals and government grants to assets classified as held for sale 108,895
Other adjustments (4,725) (550)
Change in provisions (456,426) 955,263
Change of short term and long term provisions in statement of financial position (437,468) 1,354,186
Adjustment related to actuarial gains/losses from provisions for
post-employment benefits charged to other comprehensive income
(140,992) (140,320)
Adjustement related to provisions recognized in correspondence with property, plant
and equipment
(8,771) (196,823)
Reclassification of provisions to liabilities directly related to assets classified
as held for sale
123,832
Adjustment by the opening balance of the acquired business (60,875)
Other adjustments 6,973 (905)
Total (111,338) (923,601)

Income tax paid

In the year ended 31 December 2020, income tax paid amounted to PLN 60,146 thousand. The Tax Capital Group paid advance income tax payments for 2020 in the amount of PLN 287,300 thousand and received a net inflow from income tax settlements for previous years in the amount of PLN 244,414 thousand, which in total resulted in a net outflow of income tax paid by the Tax Capital Group in the amount of PLN 42,986 thousand.

In the year ended 31 December 2019, income tax paid amounted to PLN 423,736 thousand. The Tax Capital Group paid PLN 424,096 thousand of income tax, which results from the payment of advance income tax payments for 2019 in the amount of PLN 442,525 thousand and income tax settlements for previous years resulting in a net inflow of PLN 18,429 thousand.

The significant impact on the decrease in income tax paid in 2020 compared to the previous year is due to the fact that in 2020 the Tax Capital Group paid fixed monthly advance payments of income tax determined on the basis of the 2018 tax return, whereas in 2019 the Tax Capital Group paid monthly advance payments determined on the basis of the monthly income tax return.